Bumble is Planning an IPO With a Valuation Between $6-8 Billion
Location-based dating application Bumble has plans to IPO as early as 2021, according to Markets Insider.
Bumble's IPO is projected to be valued between $6 billion and $8 billion. The company has been in talks with underwriters but has not settled on specific details.
Bumble joins the growing list of popular tech companies going public. Airbnb and DoorDash announced plans to IPO in the near future.
Last year, private-equity firm Blackstone took a majority stake in Bumble parent company, MagicLab. At that time, Blackstone valued Bumble at about $3 billion. Bumble's other investors include venture-capital firms Accel, Bessemer Venture Partners, and Greycroft.
Bumble was launched in 2014 and has grown its user base to around 100 million. It is the second-largest dating app behind Tinder, according to Statista.
Dating apps reported a massive influx of users during the coronavirus pandemic. Stay-at-home policies increased the need for human contact and connection.